Navigating Taxes: New Jersey vs. New York Explained

Curious about how taxes differ across the Hudson? Discover the key contrasts.
The tax debate begins! New York's income tax is generally higher than New Jersey's, especially for top earners.,New Jersey boasts the country's highest property tax rates at 2.33%, impacting homeowners significantly.,Sales tax varies as well; New Jersey has a 6.625% rate but offers exemptions not found in New York.,Property owners in New York face a 1.64% tax, but local rates can differ greatly by county.,Different rules for death taxes exist: NJ has inheritance tax, while NY sports an estate tax over $7.16 million.,Commuters face additional challenges; income tax obligations depend on residency versus employment states.,Understanding state-specific tax credits can ease burdens, especially for those working across state lines.,Ultimately, while neither state offers a clear advantage, understanding taxes can help navigate decisions.
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